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Multifamily

Middletown Brooke

Middletown, CT

280 Units

Built in 1989

Value Add

Investment Highlights

  • Significant Value-Add Opportunity: ±$120,000 in "light lift" renovation upside in addition to ±$387,000 in annual, organic, as-is loss-to-lease upside on current, in-place attained rent.
  • Strong In-Place Stable Cash Flow and Positive Revenue Trends: 9% new leases and 10.9% renewals
  • Excellent Dual-Commuter Location: Highly desirable Westlake District location with immediate access to Interstate 91, Hartford to the North, and New Haven to the South
  • Middletown Brooke and Middletown Ridge are offered individually or as a 518-unit portfolio.

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